Energy Conversion Devices and Enfinity are going to collaborate on a 10MW portfolio of rooftop solar installations in Ontario, Canada. They made the announcement in February and they are currently developing the plan. ECD (Energy Conversion Devices) will provide it’s new PowerTilt product and will combine this with UNI-SOLAR photovoltaic laminates. They will present this through United Solar Ovonic, which is a wholly owned subsidiary of ECD. On it’s part, Enfinity will lead the rooftop acquisition and will arrange construction debt and take-out equity financing for the projects. Enfinity is based in Ottawa. After completion of the project and it is in commercial operation, the projects portfolio will be sold to the permanent equity owners. This might be a sweet deal.
ECD’s PowerTilt product can be installed on any roof type, is very light weight and has higher energy production. This project will be on many different roofing materials so this makes the PowerTilt product the best choice. On the business end, ECD will also provide development equity during the construction phase of the projects.
This project is being done under Ontarios’ new feed-in-tariff program. The companies expect to complete construction of approximately 10MW of projects during calendar 2010.